Archived - Standard Industrial Classification - Establishments (SIC-E) 1980

• K - Finance and Insurance Industries
• 70 - Deposit Accepting Intermediary Industries
• 702 - Chartered Banks and Other Banking-Type Intermediaries

7021 - Chartered Banks

Establishments of companies, chartered under the Bank Act and listed in Schedule "A" or "B" of the Bank Act, primarily engaged in banking activities such as the creation of deposit facilities, transfer of deposit monies and provision of credit. As part of these activities, banks accept deposits from individuals and other entities and make them available through loans to, and investments in, all sectors of the economy. In addition, some of the deposit liabilities of the banks serve as a means of payment and therefore, as a medium of exchange. Establishments known as mutual funds operated by chartered banks are included in 7211 - Investment (Mutual) Funds.